LEAR CORP 4
4 · LEAR CORP · Filed Feb 4, 2008
Insider Transaction Report
Form 4
LEAR CORPLEA
FRY DAVID E
Director
Transactions
- Exercise/Conversion
2005 Restricted Units
2008-01-31−556.793→ 0 total→ Common Stock (556.793 underlying) - Award
2008 Restricted Units
2008-01-31+3,202.277→ 3,202.277 total→ Common Stock (3,202.277 underlying) - Exercise/Conversion
2006 Restricted Units
2008-01-31−1,177.394→ 1,177.394 total→ Common Stock (1,177.394 underlying) - Exercise/Conversion
2007 Restricted Units
2008-01-31−886.787→ 1,773.574 total→ Common Stock (886.787 underlying) - Exercise/Conversion
Deferred Stock Units
2008-01-31$28.11/sh+2,620.974$73,662→ 7,036.399 total→ Common Stock (2,620.974 underlying) - Award
Deferred Stock Units
2008-01-31$28.11/sh+200.142$5,625→ 7,236.541 total→ Common Stock (200.142 underlying)
Footnotes (8)
- [F1]Each restricted unit is equal in value to one share of Lear Corporation common stock.
- [F2]The 2008 Restricted Units were granted on January 31, 2008 under the Lear Corporation Outside Directors Plan and generally vest and settle in cash ratably over a three-year period on each of the first three anniversaries of the grant date. Mr. Fry has elected to defer 100% of amounts payable upon vesting of the 2008 Restricted Units, with 100% of such amounts credited to his deferred stock unit account on each such vesting date.
- [F3]Pursuant to deferral elections, Mr. Fry's deferred stock unit account is credited at the time of vesting of the 2005 Restricted Units, 2006 Restricted Units and 2007 Restricted Units. The third tranche of the 2005 Restricted Units, the second tranche of the 2006 Restricted Units and the first tranche of the 2007 Restricted Units vested on January 31, 2008 and were converted into deferred stock units at such time.
- [F4]The 2007 Restricted Units were granted on January 31, 2007 under the Lear Corporation Outside Directors Plan and generally vest and settle in cash ratably over a three-year period on each of the first three anniversaries of the grant date. Mr. Fry has elected to defer 100% of amounts payable upon vesting of the 2007 Restricted Units, with 100% of such amounts credited to his deferred stock unit account on each such vesting date.
- [F5]The 2006 Restricted Units were granted on January 31, 2006 under the Lear Corporation Outside Directors Plan and generally vest and settle in cash ratably over a three-year period on each of the first three anniversaries of the grant date. Mr. Fry has elected to defer 100% of amounts payable upon vesting of the 2006 Restricted Units, with 100% of such amounts credited to his deferred stock unit account on each such vesting date.
- [F6]The 2005 Restricted Units were granted on January 31, 2005 under the Lear Corporation Outside Directors Plan and generally vest and settle in cash ratably over a three-year period on each of the first three anniversaries of the grant date. Mr. Fry has elected to defer 100% of amounts payable upon vesting of the 2005 Restricted Units, with 100% of such amounts credited to his deferred stock unit account.
- [F7]Each stock unit is equal in value to one share of Lear Corporation common stock
- [F8]The deferred stock units were accrued under the Lear Corporation Outside Directors Compensation Plan pursuant to a deferral election (with respect to the director's cash retainer, meeting fees and/or restricted unit grants) and are generally to be paid out in cash upon the earlier of either Mr. Fry's retirement as a director of Lear Corporation or a change in control of Lear Corporation.